Why Social Media Is Essential For Business Growth

Love it or hate it, social media not only has changed the way we do business, but it allows companies to reach consumers the way they couldn’t before. With more than 3.7 billion active users worldwide, social media platforms enable you to connect with your customers, increase brand awareness and generate more leads. 

Social media provides unlimited potential for businesses because they can meet consumers at Linkedin, Twitter, Youtube, Facebook, Instagram, TikTok, and newer platforms. Companies must create engaging content with potential customers to make this marketing strategy work. 

Why Is Social Media Important For Your Business?

With the shutdowns in 2020, companies had to find new ways to reach consumers and build brand awareness. In fact, 72% of companies now use social media data to make informed business decisions. Using social media as part of your marketing strategy, you can quickly rise above your competition and increase your business's chance of succeeding. Below you’ll find the top reasons you need to implement social media into your business’s marketing strategy.

It’s Free Advertising

Who doesn’t like free advertising? Social media lets you reach thousands of people without having to spend any money. A word of caution, though, you don’t want to make it all about sales; instead, use it to post content that your target audience will find interesting. 

The cost of marketing can add up quickly, and not every business can afford them. That’s where platforms such as Facebook and Instagram come in because they are geared towards engagement and are established ways to increase sales. Over 70 percent of Instagram users and 90 percent of Facebook users follow multiple businesses, and they use them to influence buying decisions.

Build Brand Awareness

Brand awareness is vital because it’s the first step in marketing and a crucial foundation to acquire customers. Brand awareness is how consumers become familiar with and remember your company. It’s probably no surprise that this should be at the top of your marketing strategy. 

One thing to remember is that with the flood of companies jumping on social media, consumers can become overwhelmed. A study by Clutch suggests that articles, videos, and images are the most successful at engaging customers.  This is where original content partners with quality designs. Many businesses are using Facebook live and hosting a space on Twitter to engage one-on-one with people.

Build Trust

According to the Edelman Trust Barometer, 81 percent of customers factor trust into their buying decision. You may remember the bank bailout in 2008. This was a pivotal moment in how people make their buying decision. Their buying decision is no longer influenced by the cheapest product or the company that’s been around the longest. 

In the United States, 8 in 10 customers say they will remain loyal to brands they trust, with 68 percent willing to pay higher prices. So what does this have to do with social media? Human connection is one of the key benefits of social media, It introduces your followers to the people who make up your company, and people are more likely to trust people they know.

Learn About Your Competitors

Knowing who your competitors are and what they have to offer can help you make your products, services, and marketing stand out. With all of the business profiles on social media, you can easily find your competitors and explore their profiles. This helps you discover their strategy and determine what works and what doesn’t. By going through some of their posts, you can see what questions people ask and build marketing strategies by creating articles that answer their questions. 

When researching your competitors, ask yourself what they are doing better and worse than you. This will help you to determine what areas in your company to focus on. If you see they have poor customer service, you’ll know this is an area you need to focus on.

Need Engaging Content For Social Media?

Using social media to market your business doesn’t have to be stressful. The first step is creating a profile and then engaging with your customers. If you’re interested in consistently published content and how to increase traffic to your site, you can trust check out our social media marketing services and set up a free consultation to discuss how we can assist you.